The automotive composites market is anticipated to expand significantly by 2027 owing to increasing penetration of electric and hybrid vehicles across the world.

Composites are durable and strong materials that are extensively used in the automotive industry owing to their lightweight and sustainability features. Shifting preferences of consumers towards sustainable and lightweight vehicles has augmented market growth in recent years.

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Furthermore, industry players have been adopting profitable strategies to tap into emerging trends in the market, thereby enhancing overall business outlook. For instance, in September 2021, Hexcel Corporation, a major manufacturer of advanced composites, inked a partnership agreement with HP Composites SpA, a leading provider of high-performance composites. With the deal, both firms combined their expertise and advanced composites to develop external carbon fiber Class A body panels using Hexcel's HexPly XF surfacing technology.

The automotive composites market has been segmented based on application, fiber, manufacturing process, resin, and region. With respect to fiber, the market has further been divided into natural, glass, and carbon.

The glass sub-segment is speculated to showcase sturdy growth by 2027, progressing at a CAGR of more than 6.5% through the assessment period owing to escalating demand for durable materials from manufacturers. Glass fibers possess relatively higher strength than their counterparts, which is likely to boost product adoption over 2021-2027.

On the resin spectrum, the automotive composites market has been categorized into thermoplastic and thermoset. The thermoplastic sub-segment is poised to exhibit a solid growth trajectory through the analysis timeframe on account of the higher impact resistance of thermoplastics compared to other resins.

In terms of application, the automotive composites market has been bifurcated into structural & powertrain, interior, exterior, and others. The others sub-segment is expected to expand at a CAGR of above 5.2% over the forecast period. Other applications of automotive composites include fender, tailgates, and liftgates, among others. Extensive application of carbon fiber composites in these components of vehicles is set to drive segmental development in the forthcoming years.

From the regional point of view, the Middle East & Africa automotive composites market is projected to garner a limited share in the overall industry by the end of 2027. This moderate growth is attributed to the higher dependency of countries in the MEA region on imports for meeting the domestic demand for vehicles.

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However, changing government and regulatory landscapes, along with prevailing policies for attracting investment from multi-national conglomerates, are likely to propel market uptake. Additionally, surging demand for premium cars and growing penetration of electric vehicle deployment are estimated to boost regional market development over the projected timeframe.

Report Content

Chapter 1   Methodology & Scope

1.1    Market definitions

1.2    Base estimaion & working

1.2.1    North America

1.2.3    Europe

1.2.3    APAC

1.2.4    LATAM

1.2.4    MEA

1.3    Forecast calculations

1.2.1    COVID-19 impact calculations on industry forecast

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Automotive composites industry 360⁰ synopsis, 2017 to 2027

2.1.1    Business trends

2.1.2    Fiber trends

2.1.3    Resin trends

2.1.4    Manufacturing process trends

2.1.5    Application trends

2.1.6    Regional trends

Chapter 3   Automotive Composites Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2017 to 2027

3.2.1    COVID-19 impact on industry landscape

3.3    Industry ecosystem analysis

3.3.1    Raw material suppliers

3.3.2    Manufacturers

3.3.3    Profit margin analysis

3.3.4    Distribution channel analysis

3.3.4.1    End-users

3.3.4.2    E-commerce

3.3.5    Application

3.3.6    Vendor matrix

3.4    Pricing analysis

3.4.1    By region

3.4.1.1    North America

3.4.1.2    Europe

3.4.1.3    Asia Pacific

3.4.1.4    Latin America

3.4.1.5    Middle East & Africa

3.5    Cost structure analysis

3.5.1    R&D cost

3.5.2    Manufacturing & equipment cost

3.5.3    Raw material cost

3.5.4    Others

3.6    Technology landscape

3.6.1    Carbon Fiber Reinforced Thermoplastic Composites (CFRTP) technology

3.6.2    Predictive engineering tools

3.7    COVID-19 impact on automotive composites industry

3.8    Regulatory landscape

3.8.1    U.S.

3.8.1.1    The National Highway Traffic Safety Administration (NHTSA)

3.8.1.2    California Standards

3.8.2    Europe

3.8.2.1    European Commission

3.8.3    APAC

3.8.3.1    China Emission Standards

3.8.3.2    Japan

3.8.3.3    India

3.8.3.4    South Korea

3.8.4    LATAM

3.8.4.1    Brazil

3.8.5    MEA

3.8.5.1    South Africa

3.9    Industry impact forces

3.9.1    Growth drivers by region

3.9.1.1    North America

3.9.1.1.1    Weight reduction trend in vehicles

3.9.1.2    Europe

3.9.1.2.1    Presence of major car manufacturers

3.9.1.3    Asia Pacific

3.9.1.3.1    Increasing penetration of electric and hybrid vehicles

3.9.1.4    Latin America

3.9.1.4.1    Improvement in the automotive industry

3.9.1.5    Middle East & Africa

3.9.1.5.1    High demand for luxury cars

3.9.2    Industry pitfall & challenges

3.9.2.1    Complex designing process

3.9.2.2    Temporary closure of manufacturing facilities due to COVID-19

3.10    Innovation & sustainability

3.11    Growth potential analysis

3.12    Porter’s analysis

3.13    Competitive landscape, 2020

3.13.1    Company market share, 2020

3.13.1.1    Top players analysis, 2020

3.13.2    Strategy dashboard

3.13.3    List of manufacturing plants

3.14    PESTLE analysis

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